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Mortgage Broker In San Diego CA | Home Loans | (619) 857-7191

Maureen Martin is a 5 Star residential mortgage lender in San Diego CA that can help with many types of home loans. Call us today at (619) 857-7191

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(619) 857-7191

Apply Now
  • About
    • Locations
      • Mortgage Rates
      • Mortgage Broker
      • First Time Home Buyers
      • Living in San Diego
    • Blog

      • Questions to Ask Before Applying for a Reverse Mortgage
      • Popular Home Styles in San Diego: Ranch
      • Popular Home Styles in San Diego: American Craftsman
      • What is a Certificate of Eligibility (COE)?
      • Learn More About The California Dream For All Program with Maureen Martin on CBS 8
    • Contact
      • Apply Now
  • Loan Options
    • Loan Options
      • FHA Loans
      • VA Loan
      • Reverse Mortgage
      • Conventional
      • Loan Purpose
    • Resources
      • Today’s Rates
      • Interest Rates & Their Meaning
      • How to Refinance
      • Mortgage Calculator
      • Home Loan Basics
  • Purchase
    • Get Pre-Qualified
  • Refinance
  • Testimonials
    • Media
  • Contact
    • Apply Now

Jumbo Loans in San Diego

Jumbo Loans in San Diego

In San Diego, many homes fall within the conforming loan limits set by Fannie Mae and Freddie Mac, which means that they can be purchased using conventional loans. But many homes within the county exceed these limits, which means that they can only be purchased using San Diego jumbo loans.

Do You Need a Jumbo Loan in San Diego?

The San Diego conforming loan limits for 2017 are:

  • 1 unit: $612,950
  • 2 units: $784,700
  • 3 units: $948,500
  • 4 units: $1,178,750

While the median home value currently falls below these limits, there are still many homes within the county which do require jumbo loans to purchase.

San Diego Jumbo Loan Requirements

Shopping for a jumbo loan is very much like shopping for a conventional loan, but you will find that the requirements are more stringent, because the loan is perceived of as carrying more risk. For this reason, you will need to be ready to meet the following additional requirements:

  • In certain situations, instead of just one appraisal, you will need to get two.
  • Your credit score will usually need to be in the 700 or higher range (the higher the better for optimal pricing).
  • Your debt-to-income ratio should be 43% or lower.
  • Your down payment requirement will be at least 20% down.
  • You will need to document at least 6 months of reserve cash (the more you have in reserves, the more optimal the pricing).

Because of these added requirements, it is extra important to make sure you are getting competitive rates and friendly terms on your jumbo loan.

Get the Most Competitive San Diego Jumbo Loans with Maureen Martin and HomePlus Mortgage

Maureen Martin with HomePlus Mortgage is a direct lender, not a mortgage broker. That means that when you work with us, there is no middleman, which helps us reduce costs and offer some of the most competitive jumbo loan rates in San Diego. Everything is done in-house, and we focus on providing excellent communication, customer service, and flexibility through the entire application process. Give us a call today at (619) 857-7191, and we will set up a consultation!

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    2878 Camino del Rio S UNIT 402
    San Diego, CA 92108
    Phone: (619) 857-7191
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    NMLS ID: 247664
    Company NMLS: 78669
    CA BRE License: 01266511

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